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Samih Sawiris

Samih Sawiris is an Egyptian-Montenegrin businessman, best known as the founder and former chairman of Orascom Development Holding (ODH), a leading company in integrated and , with flagship projects including the resort town of in . Born on January 28, 1957, in , , Sawiris is the middle son of construction magnate and part of the prominent , which has built a vast business empire across construction, telecommunications, and investments, amassing a collective of $11.6 billion as of January 2025, making it Africa's richest family. He holds dual citizenship in and (acquired in 2011) and is a Christian. After earning a in economic from the in 1980, Sawiris launched his career by founding the National Marine Boat Factory, his first venture in the early , which marked his entry into and . Sawiris expanded into tourism and real estate by establishing Orascom Projects for Touristic Development in 1996 and Orascom Hotel Holdings in 1997, which he later merged into ODH in 2007; the company went public on the Egyptian Stock Exchange in 2011 and develops luxury resorts across Egypt (such as El Gouna and Port Ghalib), Montenegro (Lustica Bay), and Switzerland. Under his leadership as CEO and chairman until December 2021, ODH navigated challenges like the post-2011 decline in Egyptian tourism through strategic cost-cutting and asset sales, while Sawiris diversified into other areas, including co-founding the El Gouna Film Festival in 2015 and acquiring stakes in sports teams such as El Gouna FC (chairman since 2003) and FC Luzern (board member since 2011). His personal net worth was estimated at $850 million in 2015. In October 2025, Sawiris transferred his shares in ODH to his son Naguib, accelerating the company's generational succession following the departure of its former CEO.

Early Life and Education

Family and Upbringing

Samih Sawiris was born on January 28, 1957, in , , into a prominent Christian family known for its entrepreneurial spirit. His father, , was a renowned construction magnate who initially ventured into before transitioning to in the 1950s, eventually founding the Orascom Group in 1976 after overcoming challenges in the . The family's business roots in emphasized resilience and innovation, with Onsi rebuilding his enterprises multiple times amid political and economic shifts. As the second of three sons, Samih grew up in a dynamic household where entrepreneurial values were instilled from an early age. The brothers shared a close-knit upbringing that fostered collaboration and ambition within the family's expanding , without delving into specific professional paths at the time. This immersion in practical business environments laid the groundwork for his future pursuits, highlighting the Sawiris dynasty's emphasis on technical expertise and real estate innovation.

Education

Samih Sawiris attended the , where he earned a in Economic Engineering in 1980. His studies in economic engineering emphasized the of technical expertise with business and economic principles, particularly as applied to industrial sectors such as and , equipping him with skills for managing complex engineering projects alongside financial and operational strategies. This pursuit of higher education abroad in was supported by his family's established presence in Egyptian business, reflecting a tradition of seeking international academic opportunities to build global competencies. Upon , Sawiris transitioned directly into entrepreneurial pursuits, leveraging his interdisciplinary training to address opportunities in engineering and development.

Business Career

Early Business Ventures

Samih Sawiris launched his entrepreneurial career in 1980 by founding the National Marine Boat Factory, his first independent company, shortly after obtaining a in Economic Engineering from the . This venture capitalized on his technical expertise in marine construction, producing boats for local markets amid Egypt's emerging opportunities following the economic liberalization policies initiated in the 1970s. The factory began operations with modest capital of USD 25,000 provided by his father, , and focused on building vessels that supported coastal activities, laying the groundwork for Sawiris's future involvement in related industries. During the 1980s and early 1990s, Sawiris expanded his efforts beyond boat manufacturing into tourism and development projects, aligning with Egypt's gradual economic opening that encouraged private investment in infrastructure and leisure sectors. A pivotal step came in 1989 when, while cruising the Red Sea, he identified a potential site for a resort community, leading to the inception of El Gouna, an integrated tourism development north of Hurghada. Construction on El Gouna began that year, transforming desert land into a planned town with marinas, lagoons, and residential areas, which drew on the marine construction skills from his earlier factory work. This project exemplified his adaptation to post-infitah opportunities, emphasizing sustainable development and private-sector innovation in Egypt's burgeoning tourism industry. Within the broader Orascom Group established by his father Onsi in the 1970s as a construction firm, Sawiris contributed to the family's construction arms during his early career, applying his engineering background to support group projects without assuming leadership of major subsidiaries at that stage. His independent ventures, including the boat factory, evolved under the Orascom umbrella, transitioning from marine production to diversified operations such as beverages by the mid-1990s, demonstrating key lessons in leveraging family reputation and market adaptability amid Egypt's economic reforms. These experiences honed his approach to integrating technical innovation with economic liberalization, setting the stage for larger-scale developments.

Orascom Development Holding

Samih Sawiris established Orascom Projects for Touristic Development in 1996 to focus on creating integrated resort communities, building on his earlier experience in and . In 1997, he founded Orascom Hotel Holdings to manage operations, and the two entities merged in 1998 to form Orascom Hotels and Development (OHD), which served as the foundation for his and empire. The company reorganized in 2008 as Orascom Development Holding AG (ODH), a Swiss-based entity that facilitated international growth while maintaining its core mission of developing sustainable, self-contained destinations. Under Sawiris's leadership, ODH spearheaded landmark projects that blended luxury tourism with community integration. The flagship El Gouna resort on Egypt's Red Sea coast, conceived by Sawiris in 1989, expanded significantly through ODH into a fully integrated town featuring hotels, marinas, golf courses, and residential areas, accommodating over 20,000 residents and visitors annually. International expansions included Porto Montenegro (now part of Luštica Bay) in 2008, a superyacht marina and residential development transforming a former naval base into a vibrant Mediterranean hub with sustainable infrastructure. In Switzerland, ODH invested over $1.2 billion in the Andermatt Swiss Alps project starting in 2010, revitalizing the alpine village with eco-friendly hotels, ski facilities, and housing while preserving natural landscapes. Sawiris served as CEO and Chairman of ODH from its 1998 inception through 2021, guiding the company through economic turbulence such as the and regional instability by prioritizing resilient, diversified portfolios. A pivotal strategic move was the 2008 listing on the , which provided access to European capital markets and supported global scaling without altering the core business model. Throughout his tenure, he emphasized practices, integrating environmental certifications, , and community benefits into operations across 33 hotels and multiple destinations. In December 2021, Sawiris stepped down as Chairman, passing leadership to his son Naguib Samih Sawiris while retaining a significant stake, marking the culmination of over three decades building ODH into a model for eco-conscious development. In June 2025, ODH was delisted from the . Sawiris transferred his remaining shares in ODH to his son Naguib in October 2025, completing the generational transition. His legacy at ODH centers on pioneering integrated communities that balance with , influencing modern in the , , and beyond.

Other Investments and Acquisitions

In addition to his core real estate ventures at Orascom Development Holding, Samih Sawiris has pursued diversification into the sports and travel sectors, leveraging his experience in tourism to mitigate risks through targeted external investments. These moves reflect a strategic interest in markets, particularly in and , where he has sought opportunities to revive established brands and support innovative startups. In 2011, Sawiris acquired a 12.5% stake in the football club , joining the club's board and contributing to its development initiatives, including infrastructure improvements and youth academy enhancements. This investment marked his entry into sports ownership, aligning with his broader business interests in . Sawiris expanded into travel technology in 2017 by investing an undisclosed amount in Bidroom, an Amsterdam-based startup offering commission-free hotel bookings through a membership model. The platform, which aims to disrupt traditional booking fees, benefited from Sawiris's backing to scale operations across and beyond. A significant acquisition occurred in December 2019, when Sawiris, through his Raiffeisen Touristik Group—which he had majority-owned since 2014—purchased the German franchise system of the bankrupt travel operator. This deal integrated approximately 280 -affiliated agencies into Raiffeisen Touristik, revitalizing the brand amid the global travel industry's post-bankruptcy recovery. Post-2021, Sawiris continued diversifying with a majority stake acquisition in FTI Group, Europe's third-largest , completed in October 2021 via his ; this infusion of capital helped the company navigate challenges, though FTI filed for bankruptcy in 2024. He also invested in travel-tech firm The Trip Boutique in 2020, supporting its AI-driven personalized travel planning services during its seed financing round. More recently, in April 2024, Sawiris participated in Oxara's pre-series A funding, backing the ETH spin-off's development of sustainable, cement-free building materials to align with eco-friendly . These ventures underscore his focus on resilient, innovation-driven assets outside real estate.

Philanthropy

Sawiris Foundation for Social Development

The Sawiris Foundation for Social Development (SFSD) was co-founded in April 2001 by Samih Sawiris and members of the , marking it as one of Egypt's pioneering donor foundations dedicated to grant-making for . Established with an initial endowment from the family, the foundation was designed to address pressing social challenges through targeted , drawing on the family's longstanding commitment to giving back to Egyptian society. Guided by family values emphasizing and evidence-based impact, SFSD concentrates its efforts on economic and social empowerment, , and cultural preservation, operating across 24 governorates to support marginalized communities. From its through 2018, the foundation disbursed approximately $57 million in grants to over 100 non-governmental organizations (NGOs), reaching and benefiting 212,000 individuals through initiatives aimed at reducing , enhancing , and fostering educational . Among its flagship programs is the Sawiris Cultural Award, launched in 2005, which honors outstanding contributions to and , including awards for the best and short story collections, having recognized over 140 writers since its launch to promote cultural vitality in . The foundation also directs resources toward underserved populations, such as through empowerment projects that aid extremely poor households and improve learning outcomes for thousands of students in vulnerable areas. These efforts underscore SFSD's strategy of partnering with local NGOs to drive long-term . Samih Sawiris, as a co-founder and board member, plays a pivotal role in shaping the foundation's strategic direction and oversight, ensuring alignment with its core mission of sustainable social progress. The organization's endowments, in part, stem from the successes of family-led enterprises like Orascom Development Holding.

Recent Philanthropic Contributions

In 2024, Samih Sawiris contributed to a landmark $30 million philanthropic gift to the American University in Cairo (AUC), the largest single donation in the institution's history, which supported the renaming and enhancement of its business school as the Onsi Sawiris School of Business. This family-led initiative, involving the NNS Foundation, Naguib Sawiris Charitable Fund, Naguib Samih Sawiris, the Sawiris Foundation for Social Development (SFSD), and Orascom Construction, aimed to advance business education, innovation, and scholarships for underrepresented students in Egypt. Post-2021, Sawiris has deepened involvement in family-wide philanthropy, emphasizing and through global platforms such as the Global Family Foundations summit in 2025, where SFSD highlighted initiatives integrating art, , and craftsmanship to foster social impact and creativity among marginalized communities. These efforts build on collaborative family commitments to and , including partnerships for opportunities and cultural preservation. SFSD, serving as the primary platform for these recent endeavors, has expanded into inclusive change through art and craftsmanship, with grants supporting programs like the Diarna Exhibition for artisans and the Mawheba initiative for musical talent development in partnership with the Royal College of Music and the Grand Egyptian Museum. Recent emphases include education and empowerment, such as the School for Applied Technology and Construction, alongside Bab Amal's outreach to over 6,750 vulnerable households for economic self-sufficiency with cumulative investments of EGP 256 million as of 2024, benefiting thousands of individuals. In 2025, ongoing projects evolved with SFSD's support for the Rwanda-Egypt Heart Centre, providing startup funding for a dedicated cardiac care facility in collaboration with Dr. , addressing critical healthcare needs in ; Sawiris also pledged approximately 30% of his fortune toward such charitable causes, including this hospital. Additionally, the 20th Sawiris Cultural Award honored outstanding writers across multiple categories, reinforcing commitments to and .

Personal Life

Family

Samih Sawiris is married and maintains a private family life, with limited public details about his . He has at least two children: his , Naguib Samih Sawiris, and daughter, Taya Samih Onsi Naguib Sawiris. Naguib Samih Sawiris has played a central role in the family's business succession, assuming the position of Chairman of Orascom Development Holding in May 2022 after his father stepped down in December 2021. In October 2025, Samih transferred all his shares in the company to Naguib, completing a generational that emphasizes independent leadership while retaining family control through the parent entity. This move underscores deliberate planning within the Sawiris dynasty to ensure continuity in and ventures. Taya Samih Sawiris briefly served on the of Orascom Development Holding before resigning in May 2023, shortly after her father's public criticisms of economic policies; she has since kept a low public profile in business matters. The family's residence patterns reflect their roots, with primary homes and properties centered in and coastal developments like , though they prioritize privacy in personal living arrangements. Rooted in their Christian heritage, the upholds values of unity and , fostering close-knit support for business endeavors across generations. As part of the broader , which includes brothers Naguib and Nassef, this emphasis on familial collaboration has driven the transfer of leadership to the next generation without diluting entrepreneurial drive.

Citizenship and Residence

Samih Sawiris holds citizenship by birth, as the son of . In 2011, he acquired citizenship to support Orascom's major investments in the country, including the development of a large-scale tourist complex on the Luštica peninsula near , encompassing hotels, residential units, marinas, and other facilities. This dual citizenship has enhanced his international mobility, allowing visa-free travel to over 120 countries and facilitating smoother business operations and residency options within , particularly for overseeing projects in non-EU nations like . In 2022, he was also granted honorary citizenship of the for his contributions to tourism development in . Sawiris maintains his primary residence in , , where he bases much of his personal and professional life. He also owns additional properties across tied to his business ventures, such as developments in the at and coastal sites in , which serve as operational hubs rather than primary homes. Despite his substantial wealth, Sawiris leads a low-profile lifestyle centered in , prioritizing family, , and personal interests like music and boating over public ostentation.

Wealth and Recognition

Net Worth

In 2015, Forbes estimated Samih Sawiris's net worth at $850 million, placing him 26th on the list of Africa's 50 Richest individuals at the time. As of January 2025, the Sawiris family's combined net worth was estimated at $11.6 billion, the highest in Africa. Samih Sawiris was not included on the Forbes Billionaires list that year. This resurgence followed fluctuations tied to market conditions, including recoveries in real estate and hospitality sectors post-global economic challenges. As of 2025, Samih Sawiris's personal net worth is not publicly estimated by Forbes. His wealth primarily derives from equity in Orascom Development Holding, where he held significant stakes until transferring them to his Naguib in October 2025, alongside supplementary investments in (such as the 2019 acquisition of Germany) and sports (including a 12.5% stake in Swiss club acquired in 2011). Family holdings, including dividends like the $15.1 million received from in August 2025, have also bolstered overall assets.

Recognition and Legacy

Samih Sawiris is recognized as a pivotal figure in Egypt's expansion during the late 20th and early 21st centuries, particularly through his development of , a planned coastal city that has served as a benchmark for sustainable in the region. Conceived by Sawiris in the as an environmentally conscious resort community, integrates lagoons, initiatives, and systems, earning it the United Nations-sponsored Global Green Town award in 2014—the first such honor for a location in and the . This project not only boosted Egypt's infrastructure but also demonstrated scalable models for balancing economic growth with ecological preservation, influencing subsequent developments in arid coastal areas. Sawiris has received accolades for his entrepreneurial vision, including a 2019 honor from Bench Events for pioneering international projects emphasizing and social housing. He has also been featured as a speaker at prominent forums, such as those organized by the Arab Bankers Association of (ABANA), where he discussed Orascom Development's global strategies. These platforms highlight his contributions to and innovation, often in collaboration with family-led initiatives like the Sawiris Foundation. Sawiris's legacy extends to fostering family business continuity and expanding Egyptian capital abroad, exemplified by his 2025 transfer of Orascom Development Holding shares to his son Naguib, ensuring generational leadership in real estate. His ventures, including the $1.2 billion revitalization of Andermatt in Switzerland and a $400 million tourism project in Morocco, have globalized Egyptian investment models, inspiring younger real estate entrepreneurs to pursue integrated, community-focused developments beyond national borders. Despite this impact, Sawiris maintains a notably reserved public presence as Egypt's "low-key billionaire," in contrast to his more outspoken brothers Naguib and Nassef, who garner greater media attention through political and industrial pursuits.

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